Any new 41F info/consensus regarding non-RP trustees or the 2yr grace period?

[ccasanova]

So, assuming that you are going to have to submit prints and photos each time after the policy goes active in July, why not just create a new trust for each purchase. For example:

Ted Bundy Revocable Trust "A" dated 1/1/2016;
Ted Bundy Revocable Trust "B" dated 1/1/2017;
Ted Bundy Revocable Trust "C" dated 1/1/2018;
Ted Bundy Revocable Trust "D" dated 1/1/2019;
Etc.

It takes no time to change the "alphabet and date" designators, and then execute a new one. Put the new item(s) on the property exhibit, burn a PDF of the new trust and ship it off with the photos and prints each time.

After the Form 4 comes back, Ted Bundy amends each trust to now include all the co-trustees he wanted in the first place.

Correct me if I'm wrong, but assuming the trust has a provision to amend, to amend simply takes a signature of the trustor and a notary. It's stapled to the trust and there is no regulatory body to even file it with.

This sounds much simpler than collecting multiple sets of prints and photos from trustees spread out all over the country, every time you want to add to the inventory. Here you only need the original trust creator to jump through the hoops.

My trust includes an amendment which basically states that I, the settlor, am now the sole trustee and RP. After everything is approved, shred the amendment and the original trust remains intact.

Thoughts?

[BigWaylon]

My trust includes an amendment which basically states that I, the settlor, am now the sole trustee and RP. After everything is approved, shred the amendment and the original trust remains intact.

Thoughts?

That's all well and good until the first "worst case scenario" happens. One of your trustees is in possession of the item, something happens, and it ends up in court. The ATF's last copy shows you as the only RP, and there's no Amendment on record that adds your trustee(s) back.

Yes...lots of things would have to go wrong to be in that situation, but that's what could happen. I'd be much more comfortable with a series of add everybody and delete everybody amendments.

Heck, my other thought was to create two trusts with the same name. New one has just me, old one is my current trust. Submit the new one, but carry the old one. All paperwork would be kosher, right up until that same "worst case scenario" hits.

[ccasanova]

Thanks for the insight.
If I go that route, should I just notify them of the updated trustees afterwards? (To be safe?) Or is there no need (barring something crazy).
From reading this thread, I gather the ATF only 'need' to be notified of trust changes if the trust is pursuing another NFA item/stamp. In which case the most recent/updated trust copy is required, complete with pp photo and fingerprints of all RPs. Correct?
For example, I can add RPs to the trust for "use" of NFA items anytime I want without contacting ATF.

[BigWaylon]

No need to proactively notify them of anything. They said as much in the 41F release. There was a proposal to make you notify them within 30 days of any change to RPs, but it didn't pass.

[SC-Texas]

No need to proactively notify them of anything. They said as much in the 41F release. There was a proposal to make you notify them within 30 days of any change to RPs, but it didn't pass.

Exactky


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